Dr: Cash/PPE/Intangible assets Cr: Common/Preferred shares ➢ Declaration of Cash dividend Dr: Retained earnings Cr: Dividend payable Payment of cash dividend Dr: Dividend payable Cr: Cash ➢ Declaration of stock dividend Dr: Retained earnings Cr: Stock Dividends Distributable Distribution of sto...
9. Accounts payable 1,000 Dr. Cash 1,000 Cr. (Record of inventory payment to vendor)10. Dividends 1,000 Dr. Cash 1,000 Cr. (Record of dividends paid)2. Answer the following questions:1. What is a Journal entry?A journal entry is an accounting record that documents a bus...
When a business receives an invoice for goods or services they have received, but not yet paid, that balance is recorded in accounts payable. Accounts payable can also include a business credit card that is used and then paid off to facilitate transactions....
Dividends are given to shareholders as incentives with the approval of the board of directors. Dividends should only be taken out from the balance of retained earnings.Answer and Explanation: The journal entry upon declaration and payment of dividends. Account Title...
Journal Entry for Receiving Payment for Invoice Journal Entry for Purchase of Goods Journal Entry for Purchase of Services Journal Entry for Making Payments for Purchases Journal Entry for Only Fulfilling Orders (transfer of goods/inventory out of the system) ...
What is a chart of accounts? What are the four closing journal entries? Why are they necessary? What are the four closing journal entries? Why are these necessary? What is the journal entry used to record the declaration of dividends?
Record the declaration and payment of the stock dividend using journal entries.SolutionAs the company has declared a 10% stock dividend, it would be accounted just like a cash dividend.Journal entry on the date of declaration:Retained Earnings 300,000 Stock Dividends Distributable 300,000...
when the company declared final cash dividends, the journal entry should be ( )A.Dr Final dividends declared Cr CashB.Dr Retained earning Cr Dividends payableC.Dr Final dividends declared Cr Dividends payableD.no entry的答案是什么.用刷刷题APP,拍照搜索
Non-Current Portion Bonds Payable Journal Entry Example (Debit, Credit) What are Bonds Payable? Bonds Payable are a form of debt financing issued by corporations, governments, and other entities in order to raise capital. As part of the financing arrangement, the issuer of the bonds is ...
Liquidating Dividend Journal Entry A dividend is typically declared, or announced, before it is paid out. The dividend becomes a liability once it is declared and this results in a journal entry to record the payment due. Thedividend payableaccount is credited in the amount of the dividend decl...